Double_Smoothed_MACD_Stochastic - MetaTrader 5 script

As the name suggests, this oscillator is a stochastic MACD smoothed twice

It has eight tunable parameters:

 DSS = PrevDSS + Beta * (DDS3-PrevDSS)
Signal = PrevSignal + Alpha * (DSS-PrevSignal)
DDS3 = 100.0 * (DDS2-Min2) / (Max2-Min2)
Max, Min - Maximum and minimum DDS2 values ​​within the "Random Period" range DDS2 = Previous DDS2 + Beta * (DDS1 - Previous DDS2)
DDS1 = 100.0 * (MACD-Min1) / (Max1-Min1)
Max1, Min1 - Maximum and minimum MACD values ​​within the "Random Period" range MACD = EMA(Apply Price, Fast EMA Period) - EMA(Apply Price, Slow EMA Period)
Alpha = 2.0 / (1+Signal_EMA signal period)
Beta = 2.0 / (1+smooth)
 Attachment download
 📎 double_smoothed_macd_stochastic.mq5 (14.96 KB)
 Source: MQL5 #22080